The object is deleted, but Ctrl Z (undo) does not restore it. None of the Delete functions can be undone. Paint operations can be undone with Ctrl Z, but Ctrl Y (Redo) does not restore them. Just do not make mistakes.
Once i figure out a way to differentiate when you painted and when you delete something, ill be adding that. Undo/redo is one of those mystic arts that i am still learning about lol